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[Minor metal] Lukewarm Trading Sentiment in Cobalt Salt Market
SHANGHAI, Sept. 15 (SMM) -- The trading sentiment was very lukewarm in domestic cobalt salt market, and cobalt salt prices remained stable, with the possibility of downward movement. Cobalt chloride was mainly traded around RMB 71,000/mt, while cobalt sulfate was mainly traded at RMB 60,000-62,000/mt.
Cobalt salt prices advanced slightly after trading volumes increased when cobalt salt prices were low during the first week in September, but transactions became limited. A cobalt salt producer said most deals were less than 100kt.
SMM believes trading volumes dropped in cobalt salt market were attributed to weak downstream demand. cobalt salt prices are expected to slide in view of no signs of improvement in market demand in the short term.
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